Flagstar Financial Earnings: What To Look For From FLG

Regional banking company Flagstar Financial (NYSE:FLG) will be announcing earnings results this Friday morning. Here’s what investors should know.

Flagstar Financial missed analysts’ revenue expectations last quarter, reporting revenues of $507 million, up 3.5% year on year. It was a slower quarter for the company, with a significant miss of analysts’ net interest income estimates.

Is Flagstar Financial a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting Flagstar Financial’s revenue to grow 9.6% year on year, a reversal from the 26.1% decrease it recorded in the same quarter last year.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Flagstar Financial has missed Wall Street’s revenue estimates multiple times over the last two years.

Looking at Flagstar Financial’s peers in the banks segment, some have already reported their Q2 results, giving us a hint as to what we can expect. OFG Bancorp delivered year-on-year revenue growth of 4.5%, beating analysts’ expectations by 3.9%, and Citigroup reported revenues up 14.3%, topping estimates by 4.5%. OFG Bancorp traded up 4.1% following the results while Citigroup was down 4.1%.

Read our full analysis of OFG Bancorp’s results here and Citigroup’s results here.

There has been positive sentiment among investors in the banks segment, with share prices up 2.7% on average over the last month. Flagstar Financial’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $16.53 (compared to the current share price of $14.88).

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